The Taskforce on Nature-related Financial Disclosures (TNFD) has announced it is working with a multi-disciplinary group of leading international organisations – including the Capitals Coalition – that will support its task of developing a risk management and disclosure framework for nature-related risks. This framework will provide companies and investors with decision-useful information to help shift the flow of global capital to nature-positive outcomes.
These key knowledge partners will contribute expertise across scientific disciplines, market practice and the development of nature-risk scenarios to advise the Taskforce, compromising of 34 senior executives from across finance, business and market service providers.
The participation and collective experience of this group reflects the commitment of the TNFD to build on existing expertise and initiatives, and to incorporate the best available scientific knowledge and established market practice relating to risk management and disclosure.
This initial group of knowledge partners are:
- Agence Française de Développement (AFD)
- Carbon Disclosure Project (CDP)
- Cambridge Institute for Sustainability Leadership (CISL)
- Global Reporting Initiative (GRI)
- IFRS International Sustainability Standards Board (ISSB)
- International Union for Conservation of Nature (IUCN)
- Network for Greening the Financial System (NGFS)
- Science Based Targets Network (SBTN)
- The Capitals Coalition
- UNEP World Conservation Monitoring Centre (UNEP WCMC)
- UN Statistics Division
- The World Business Council for Sustainable Development (WBCSD)
The TNFD is also drawing on the scientific work and expertise of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES).
TNFD’s Technical Director, Emily McKenzie, said: “Alongside being market-led, being science-based is one of TNFD’s core principles. Building on existing research and standards is another high priority. I am delighted that TNFD will benefit from the extensive expertise of such a strong, experienced and multi-disciplinary group of organisations.”
These knowledge partners are already supporting the five Working Groups under way with efforts to build an initial beta version of the TNFD framework, to be released in in March.
With consultation and piloting testing of the draft risk management and disclosure framework due to begin in April, the TNFD will be expanding its global network of consultation and implementation partnerships throughout 2022, including channels for engagement with national conservation and business organisations, as well as local community groups in high nature-risk areas globally.